Today's Most Active Premarket Stocks ð¥

May 24, 2022

Hey traders! It's Michael here with the BRAND NEW Stock Dork Premarket Report, your go-to guide for the day's biggest trading news and hottest premarket stocks!

Today is Tuesday, May 24th. Let's get ready to trade!

WHAT'S HAPPENING

The S&P 500 added 1.9% on Monday's session, and the Nasdaq gained 1.6%. Blue chips in the DJIA gained 2.0%, and the small-cap Russell 2K advanced 1.1% as markets rebounded from a run of losses.

Today, the bears are back in town, and S&P 500 futures down 1.1% ahead of the opening.

TODAY'S TOP STOCKS

Best Buy [BBY] - Last Close: $72.59

Best Buy is trending after this morning's quarterly earnings release.

The big box retailer reported its first-quarter earnings results this morning and posted revenues of $10.65 billion for the quarter, topping the Street's $10.43 billion forecast.

However, Best Buy's Q1 EPS of $1.57 missed the consensus estimate of $1.63, and the company lowered its full-year forecast as a result of high inflation driving up costs.

The stock is down sharply from its high of $141.97 per share hit last November. Now, it could be a great value with a P/E ratio of just 7.37.

BBY is leading the S&P 500 with a 4.7% gain.

SpringWorks Therapeutics [SWTX] - Last Close: $38.00

An upbeat clinical report is lifting shares of SpringWorks in the premarket.

The biotech firm reported its nirogacestat drug candidate achieved its primary and all key secondary endpoints in Phase 3 DeFi trials in adult patients with progressing desmoid tumors.

Clinical data shows the drug produced statistically significant improvements in progression-free survival compared to placebo, and statistically significant improvements were also achieved on all key secondary endpoints.

Additional data is expected to be presented at an upcoming medical conference set for the second half of 2022, and the company plans to submit a New Drug Application to the US Food & Drug Administration in the second half as well.

SWTX is one of this morning's top performers with a 19.6% premarket gain.

Guardforce AI [GFAI] - Last Close: $0.6238

Guardforce AI just went on a major shopping spree.

The cybersecurity firm announced it had entered into two definitive agreements to acquire a total eight Chinese companies for a combined value of $30 million in a press release this morning.

Guardforce's acquisitions are established providers of Robotics-as-a-Service solutions in their respective Chinese markets, and executives from the company say they look forward to "leveraging these newly-acquired capabilities across our global platform" and other benefits.

GFAI is up 18.0% on active trading volume following the press release.

CynergisTek [CTEK] - Last Close: $0.59

CynergisTek is soaring on news of a buyout deal.

The cybersecurity firm announced late Monday that it had entered into a deal to be acquired by Clearwater Compliance in an all-cash deal worth $17.7 million.

Under the terms of the agreement, CTEK shareholders will receive $1.25 per share, representing a 111.9% premium over Monday's closing price.

The deal has been approved by CynergisTek's board, and it is expected to close in Q3 subject to shareholder approval and customary closing conditions.

CTEK is trading actively with a 100.0% gain on news of the deal.

RUNNING HOT

Gainers

Bimi International [BIMI] >> +124.8%
Better Therapeutics [BTTX] >> +11.6%
Sellas Life Sciences Group [SLS] >> +15.0%

Decliners

Snap [SNAP] >> (29.2%)
Catalyst Bioscience [CBIO] >> (15.8%)
GeoVax Labs [GOVX] >> (25.4%)

EARNINGS

Ralph Lauren [RL] ... AM
Canadian Solar [CSIQ] ... AM
AutoZone [AZ] ... AM
Nordstrom [JWN] ... PM
Toll Brothers [NDSN] ... PM
Agilent Technologies [A] ... PM
Intuit [INTU] ... PM

ECONOMY

S&P Global US Manufacturing PMI [May] ... 9:45a
New Home Sales [Apr] ... 10a

Thanks for reading! Don't forget, I'm always eager to hear from you. Reply to this email with your questions, comments, or general feedback, and I'll get back to you as soon as I can.

Wishing you big returns on your investments this week, as always!

- Michael "The Stock Dork" Taylor

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